Vietnam needs to establish a legal framework for environmental protection.

Sharing at the Vietnam - France Economic Forum 2023 towards green and sustainable development, Mr. Thomas Honnet, representative of the France - Vietnam Friendship Association, said: Vietnam needs to establish a legal framework for businesses to comply with environmental protection regulations during production and business activities.

Taking green growth as a growth driver

According to Mr. Thomas Honnet, attention to the longevity of information technology products or the repairability of electrical and electronic products or the responsibility of consumers in using technology products should be considered mandatory regulations. The government also needs to develop policies and prioritize support for businesses in researching and developing green technology applications.

Vietnam - France Economic Forum 2023 (Photo: People's Representative Newspaper).

In France, many green and sustainable development policies have been effectively implemented. Taking green growth as a growth driver, the French Government has required businesses to extend the life of products that reduce environmental impacts: requiring electrical and consumer electronic products to be repairable, facilitating product repair with readily available spare parts...

The French government also strongly supports green finance through comprehensive subsidy programs such as tax incentives and the development of financial instruments, a clear climate strategy for France that all public investments must align with, and a leading position as an issuer of green government bonds.

France has reduced household waste and equivalent waste per person by 10% by 2020, reducing waste generated from economic activities per unit of production value, especially in the construction and public works sector compared to 2010. Comprehensive innovation in product design, increasing reuse and recycling for organic products to 55% by 2020 and 65% by 2025 for non-hazardous waste, especially electrical and electronic equipment, textiles and furniture...

France is also a country that has transformed jobs in the green economy by promoting training for jobs in green and greening sectors. In 2018, the French Ministry of Labor, Employment, Vocational Training and Social Dialogue launched a program called "10Kverts" to promote the access of young people and job seekers to "green" occupations.

Institutionalize into legal regulations

Associate Professor Dr. Nguyen Chien Thang, Director of the Institute of European Studies (Vietnam Academy of Social Sciences) proposed: Vietnam needs to refer to France's experience in using green growth as a growth driver, thereby spreading it to all aspects of economic and social life. At the same time, institutionalize it into legal regulations to bind the implementation responsibilities of the subjects.

Speaking at the Forum, Mr. Le Cong Thanh, Deputy Minister of Natural Resources and Environment said: "The transformation of the current linear economic model to a circular economic model, green economy, digital economy is an urgent requirement in the context of climate change, degradation of natural ecosystems, and environmental pollution that are seriously affecting all aspects of life, production and business globally."

Launching ceremony of the book "Vietnam - France Economy: Towards sustainable green development". In the photo, Ambassador Nguyen Phuong Nga, President of the Vietnam Union of Friendship Organizations (middle) and delegates receive books donated by the group of authors (Photo: Mai Anh/Thoi Dai).

In the transformation process, enterprises play both the role of the subject and the driving force. Therefore, it is necessary to create conditions for enterprises to innovate their investment portfolios in Vietnam. Priority should be given to developing green, low-carbon infrastructure that is resilient to the impacts of climate change, restoring natural ecosystems, developing natural capital; investment projects that contribute to development goals in line with global commitments on climate and the environment. Promote and attract investment in areas that play a driving role in the transformation process such as renewable energy, clean fuels, and green technology development; gradually eliminate projects that pollute the environment and emit greenhouse gases.

Along with that, it is necessary to pay attention to innovating creative financial mobilization methods, including blended finance, carbon credit exchange, and carbon pricing to mobilize resources for transformational projects.

Projects need to promote investment and transfer of environmentally and climate-friendly high technology to Vietnam to reduce greenhouse gas emissions, reduce carbon footprints in products manufactured in Vietnam to meet export standards to the European market and markets with high emission standards, while contributing to the goal of achieving net zero emissions, converting energy from fossil fuels to renewable energy.

"The Vietnamese Government has directed ministries, sectors and localities to review and complete mechanisms, policies, laws, planning, and promote administrative procedure reform. Thereby creating a favorable environment and taking advantage of opportunities to mobilize domestic and foreign resources for green and sustainable development as well as to fulfill international commitments on the goal of net zero emissions by mid-century...", Mr. Thanh said.

Vietnam has issued: National Strategy on Climate Change for the period up to 2050, National Power Development Plan for the period 2021-2023, vision to 2050, Green Growth Strategy... This is the premise for Vietnam to attract investment for sustainable green development, in line with the roadmap to achieve the net-zero goal by 2050; promote strong development of offshore wind power, solar power, onshore wind power; convert coal power to renewable energy; convert means of transport to use electricity.

Thuy Duong